The Global Haptics Market is Projected to Reach US$20.4 Billion by 2024

The Growing Shift Towards Tactile User Interfaces for Mobile Touchscreens to Drive the Global Haptics Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Haptics market. The global Haptics market is projected to reach US$20.4 billion by 2024, driven by the rise of tactile touchscreens; and the growing number of new applications entering the commercialization phase in automotive, healthcare, and advertising industries.  

Haptic feedback can be described as the simulation of the sense of touch combined with artificial reproduction and delivery of sensory perceptions such as texture, temperature, physical attributes of an object in a virtual environment. With new generation electronic devices focusing on interface technologies that make user control of the device easier and safer, haptics with tactile feedback are poised to grow in popularity. By stimulating real world tactile interactions, haptics provides the much important realistic, immersive, and intuitive interaction with electronic devices.

Emerging application areas of haptics include smartphones, tablets, virtual keyboards, gaming and media, automotive infotainment, climate control, navigation, drive by wire, PCs, PDAs, PNDs, home automation, white goods, cameras printers, robotic surgical systems, medical devices, medical simulators, handheld game consoles, casinos, point of sales devices, industrial controls and desktop phones, among others. Key benefits of haptic technology poised to drive its adoption include improved device usability, enhanced realism, the ability to create contextual awareness, and simulation of physical feedback which is critical for modern touchscreen devices where audio or visual confirmation are often insufficient.

Since its advent, haptic technology has registered significant developments. Currently, efforts are being made to introduce full sensory haptic VR solutions, which would provide a fully immersive experience. Full haptic technology is likely to have the capability of various sensory feelings such as heat, smell, and touch to be experienced anywhere. Some of the haptic technology wearables under development that aim to offer such as complete haptic experience include Google Haptic Helpers, Synesthesia Suit, Rapture Vest, Axon VR, ‘Haptika, the Hardlight VR Suit, and Teslasuit. These relate to haptic technology based sensory bodywear, vests, VR suits, and an exoskeleton. Haptic technology applies vibrations, user’s motions or forces for enabling the users to experience the sensation of touching the images in real-time. Many brands in online shopping have started using the haptic technology for developing multi-sensory digital experiences.

In the advertisement sector, conventional advertising formats are fast evolving for maximizing limited screen space of mobile devices. Haptic technologies employ sense of touch for boosting the communication and interaction experience and have been in use for long. Advertisers are now exploring benefits of using this technology for facilitating business growth. The best prospects for haptics appear to be in VR (Virtual Reality) and AR (Augmented Reality) applications. New technologies like AR and touch feedback are making rapid inroads into mobile advertising. Mobile and digital advertisements, enhanced with touch feedback in particular, are expected to emerge into a major trend in the coming years.

As stated by the new market research report on Haptics, Asia-Pacific, especially Taiwan, China, and South Korea represent the largest markets for Haptics technology owing to their dominance in the global electronics manufacturing industry. Taiwan represents the largest market worldwide, followed by China supported by the presence of a large number of electronics contract manufacturing companies. China is forecast to witness the fastest growth with a CAGR of 17.8% over the analysis period.

Major players in the market include AAC Technologies Holdings Inc., CyberGlove Systems LLC, Entact Robotics Inc., Ergos-Technologies, Force Dimension, Haption SA, Immersion Corporation, Moog Inc., MPB Technologies Inc., Murata Manufacturing Co., Ltd., Novasentis, Inc., Novint Technologies Inc., Quanser Inc., Reachin Technologies AB, Senseg OY, Tactical Haptics, LLC, Tactus Technology, Inc., and Tanvas among others.

The research report titled "Haptics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities worldwide. The report provides market estimates and projections in US$ for Haptics for all geographic markets including Taiwan, China, South Korea, and Rest of World.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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